Institution details
ECGA O - Export Credit Guarantee Agency of Oman SAOC (ECGA)
Key facts
- Established in 1991
- Ownership: Public
Not Part of the OECD
Not part of the Berne Union
- P.O. Box 2031
- +968 24346666
- https://www.ecgaoman.com.om
Latest update: 03/12/2021
rating type | rating agency | type | rating |
---|---|---|---|
Institution rating | S&P | Foreign currency | BB |
Country rating | S&P | Local currency | BB |
Products
- Export credit insurance
- Pre-shipment export credit guarantee
- Post-shipment financing
- Domestic credit insurance
Export credit insurance
- The product mitigates non-payment risk to Omani exporters
- Credit terms of
- Up to 180 days for non-capital goods, from the date of the export contract or from the date of shipment - Eligibility:
- Omani exporters of any size operating in any industrial, commodity, or service sector
- The product or service must be either wholly or partly produced in Oman - Coverage:
- 80% of commercial risk
- 85% of political risk
- If buyer fails to pay, 20% first loss by Omani exporter - Premium: Based on agreed modes of payments, credit period, and importing country rating
Pre-shipment export credit guarantee
- Available to Omani credit-insured exporters to obtain working capital at pre-shipment stage to purchase raw materials and pay for ongoing operations
- Guarantee is provided to lenders to finance Omani exporters at liberal terms
- Eligibility:
- Export sales need to be insured by the ECA
- Exports from all industrial sectors can be covered
- The product or service must be either wholly or partly produced in Oman - Risk covered:
- Insolvency of the exporter
- Protracted default by the exporter
Post-shipment financing
- Available to Omani exporters to discount their export bills with banks at a preferential interest rate before the bills are due for payment
- Eligibility:
- Export sales need to be insured by ECGA of Oman
- The exporter is an ECA policyholder
- The product or service must be either wholly or partly produced in Oman - Fee: None
Domestic credit insurance
- Covers non-payment risk of domestic sales with extended payment terms
- Eligibility: Omani company must also be an exporter and policyholder of ECA
- Term: Up to 180 days from date of delivery of goods
- Cover: Up to 80% of commercial risks
Modality | Tenor | Cover type | coverage |
---|---|---|---|
Insurance | Short-term | Comprehensive | 80%-85% |
Insurance | Short-term | Political | 85% |
Performance highlights
What's new?
- The agency signed an agreement with the Public Authority for Investment Promotion and Export Development (Ithraa) that aims to boost the sultanate’s exports
- The Omani and Iranian ECAs signed a cooperation agreement
- The ECA appointed Imaad Al Harthy as acting CEO
- The agency provides export insurance cover to Omani non-oil exporters to promote Omani exports